DTE, a Reykjavik, Iceland-based elemental analysis technology company, raised additional $6M in Series A2 funding.
The round was led by Eyrir Vöxtur and EIC Fund. This latest operation completed the Series A2 financing round initiated earlier this year, in which the company secured a $10M first close from Novelis, Metaplanet, EIC Fund, as well as previous investors Chrysalix Venture Capital and Brunnur Ventures.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Karl Matthiasson, DTE provides real-time elemental analysis technology, which complements and replaces current manual methods for process and quality control. Its proprietary LP-LIBS™ sensor technology is able to deliver reference-grade elemental analysis directly from high-temperature molten metals. Melt composition information from all critical process points – from reduction cells and transport crucibles to furnaces and launders – is fed into DTE’s cloud analytic platform, which transforms these signals into high-value, predictive decision-making insights. This capability offers enhanced process control and decision support, empowering manufacturers and metals producers with unprecedented real-time information.
FinSMEs
22/12/2023